The fourth IPO of OQ Group for 1.7 billion shares on the Muscat Stock Exchange starts on Sunday.

Tomorrow, Sunday, is the start of the eagerly awaited subscription period for the shares of OQ Basic Industries Corporation (which is undergoing a transition).

Muscat: The subscription will remain open for five days for individuals and eight days for institutions.

The public offering comprises approximately 1.7 billion shares, representing 49% of the company’s capital, with a value potentially exceeding RO 180 million. As the fourth company from the OQ Group to be listed on the Muscat Stock Exchange, this move aligns with Oman Vision 2040 by converting state-owned assets into publicly traded companies, enhancing private sector participation, and boosting market liquidity to attract local and global investors.

Eng. Ali bin Mohammed Al Lawati, Chief Human Resources and Technology Officer at OQ Group and Chairman of OQ Basic Industries, emphasized that the IPO is part of efforts to establish the Muscat Stock Exchange as an emerging market that appeals to international investors.

Khalid bin Khalfan Al Asmi, CEO of OQ Basic Industries, called the IPO a unique opportunity to invest in a company with robust foundations and a proven track record. To bolster awareness and participation, the company is hosting six introductory meetings across Oman in collaboration with the Oman Chamber of Commerce and Industry.

The first session will be held tomorrow in Rustaq at the Oman Chamber of Commerce and Industry’s South Al Batinah branch, followed by meetings in Ibra (Monday), Muscat (Tuesday), Nizwa (Tuesday), Sohar (Wednesday), and Salalah (Thursday).